The Preparatory Phase
A comprehensive study will need to be carried out to understand the effects of the proposal on the micro level, on all segments of Society and the Economy. Only the Government has the wherewithal and the resources necessary for conducting such an exercise. Banks will have to invest in technology for efficient management and infrastructure for deeper penetration into areas of low presence. This will be a long-term process and Banks will have to plan their strategies accordingly. The citizens will have to be informed about the new system over a certain period through the use of every possible means and media. A nationwide effort will have to be made using all existing administrative network to issue unique P.A. Numbers / Social Security no. and cards to each and every citizen.
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